Financing for Farm Labor Contractors and Crew Leaders

Looking for loans for farm labor contractors and crew leaders? An SBA loan may be just what you've been looking for. This $83,292 farm labor contractors and crew leaders loan was issued by a Texas bank.

This small firm knew how to go about getting a business bank loan. Based in Floydada, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Security Bank, based in Idalou, Texas.

SBA Loan Borrower

COMPANY TYPE: FARM LABOR CONTRACTORS AND CREW LEADERS
FLOYDADA, TX 79235

SBA Loan Lender

SECURITY BANK
302 MAIN ST
IDALOU, TX 79329

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0761 - Farm Labor Contractors and Crew Leaders

NAICS Code

115115 - Farm Labor Contractors and Crew Leaders

Loan Approval Date

3/13/2001

Loan Approval Gross Amount

$83,292

Loan Approval from the SBA

Of the total $83,292 loan amount, the SBA guaranteed $70,798.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Security Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Security Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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